My GT had audio that didn't work at all, not even with headphones. I ended up just replacing the one cap, which turned out to be a huge chore in itself. My hands are too large and unsteady to be working on a PCB that is so cramped and small. I blew the fuse in the process, which I luckily bypassed with no ill effects.
Anyway, after replacing the one cap, I now have loud sound over the headphones but the speaker is still dead. I'm going to leave it at that and call it good-- after reading what grahf suggests for replacing the other caps, I'm calculate an 85% chance of destroying my GT if I were to attempt it. Especially after the trouble I had with the "easy" one.
It's OK, because I would normally use headphones most of the time I played anyway.